The Financial Times Under Fire After Its Radical View On The Total Collapse of Bitcoin

Bitcoin sparks controversy again. An opinion piece published by the Financial Times (FT) declares it “doomed to disappear” with a provocative estimate: BTC remains $70,000 too high. This fiery statement quickly triggered a chain reaction within the crypto community.

A radical prediction by the FT shocks the Bitcoin sphere

In her opinion piece, Jemima Kelly compares bitcoin investors to a skydiver convinced that “everything is fine” until the fatal impact. This chilling parallel fuels an extreme prediction: market crashes and a return to zero for the BTC price. According to her, the supply of pigeons is drying up. This suggests that no one will buy an already overvalued asset anymore.

This stance contrasts with the current reality. We refer to bitcoin whose value remains firmly above $42,000. For many investors, these statements therefore reflect a profound misunderstanding of blockchain mechanisms and the resilience of the crypto market.

Bitcoiners respond: between sarcasm and certainties

On X (formerly Twitter), reactions didn’t wait. One user sarcastically declares that you know the market bottom has been hit when old media announce the death of bitcoin. The flagship crypto has also left the top 10 global assets. Another congratulates the FT for missing the major technological evolution of its time.

According to some crypto analysts, this type of statement often serves as a bottom signal. The idea? When major media proclaim the end of bitcoin, it rebounds. This dynamic has already been verified in 2015, 2018, and 2020. By denouncing the FT’s financial analysis as archaic, the crypto community thus reaffirms its faith in the digital asset’s value.

Despite the criticism, this Financial Times piece certainly raises a fundamental debate: does bitcoin represent a risky bet or a lasting revolution? One thing is for sure: it is not done making headlines!